Should I give my GF 30K to help clear some of her student loans?
Like what the title says, I want to give my girlfriend 30K so I can help relieve some of her financial stresses.
I am 30. I have been dating my girlfriend (26) for almost 4 years, and I know I want to marry her one day. But I am also really worried for her. She has her degree in Kinesiology but has accumulated 60K in student debt.
She has a job now, but she is only making 40K and on top of this, she is getting more financial pressure from her family, as she is expected to help pay for a portion of the mortgage and the bills. I see the stress on her face and it hurts knowing that she is dealing with this on a daily basis.
I am about to start a new job that will pay me just over 100K per year gross. I graduated with an Engineering degree without any student debt thanks to my co-op jobs. I had been living at parents house and I have accumulated approximately 150K total in my savings.
I don’t own a house and potentially I will potentially need to replace my car in the future. I am not rich by any means, but I also know I am doing ok for someone my age.
She is not paying any interest rates on her student debts due to the pandemic, but she will next year. In my opinion, I think giving her money now would be good for her as it would significantly reduce the amount she would have to pay in the long run, but I am not sure if it is as simple as that.
Living has not been cheap as most people know. I have also come to terms that I am most likely won’t be buying a place here anytime soon. Her family relies on her so much as she does many of the errands for them and is sort of a designated driver for them.
I know I can be impulsive at times with decisions so I want to make sure I am doing this right. I am aware that this is a lot of money and that the potential of us breaking up (:() could happen. But if I do this, I expect nothing in return, just the peace of mind that she has hope of clearing her student loans sooner than she expected. Am I missing something?
Is there a better way I can help her with this? I am open to suggestions.